Another step forward

88 Pages·2013·3.53 MB·English

Annual Report 2012
Another step forward
Fulfilling the potential of tomorrow’s leaders
Bahrain Institute of Banking
and Finance
Contents
2 Introduction 49 BIBF Team
4 Chairman’s Statement 52 Guest Speakers / Lecturers 2012
6 Vision, Mission and Values 54 Participating Organisations
8 Members of the Specific Council for 58 Independent Auditors’ Report
Vocational Training (Banking Sector) 60 Statement of Financial Position
10 Director’s Report 61 Statement of Comprehensive Income
14 Management Team 62 Statement of Changes in Fund Balance
18 Centre Reports 63 Statement of Cash Flows
32 Department Reports 64 Notes to the Financial Statements
41 Programme Details
His Royal Highness, His Majesty, His Royal Highness
Prince Khalifa bin King Hamad bin Isa Prince Salman bin
Salman Al Khalifa Al Khalifa Hamad Al Khalifa
The Prime Minister The King of the Crown Prince, Deputy
of the Kingdom Kingdom of Bahrain Supreme Commander
of Bahrain and First Deputy Prime
Minister of the Kingdom
of Bahrain
Introduction
1981 The Bahrain Bankers Training Centre was
inaugurated in March 1981 and launched
specifically for the banking industry.
213 By the end of 1981 we had taught
213 participants.
1988 We changed our name to
Bahrain Institute of Banking and
Finance (BIBF) in 1988.
19,000 By the end of 2012 BIBF had taught
over 19,000 participants.
75% In the last five years there has been
a 75% increase in participants.
300 BIBF today has well over 300 unique
programmes on offer. We train not only in
Banking but Accounting and IT, Insurance,
Islamic Finance, Leadership and Management
disciplines (including Marketing and HR)
and have Centre’s dedicated to Academic
programmes, Research & Assessment.
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BIBF offers morning courses, custom programmes as requested BIBF is a multilingual,
by clients, professional qualifications, diplomas and masters
multicultural
qualifications both locally and internationally. Our faculty is
diverse and international. organisation with
We service the entire Bahrain Banking, Insurance and Financial world class faculty,
sector (which we define as members) and have serviced
most of whom hold
hundreds of local and international non-member organisations
including corporate, ministries, and regulatory bodies. internationally
recognised professional
BIBF provides of an extensive range of internationally
recognised professional qualifications. These include the CIA and academic
with PRC, CFAB in collaboration with the ICAeW (uK), DipIFR
qualifications, along
and FIA/ACCA with ACCA (uK), CPA and CMA (Morgan),
Certified ethical Hacker (with ProCloud and eC Council), ISO with extensive market
Quality Auditor and Lead Auditor (with QMF), ICDL and ICDL
experience.
Advanced within the Centre for Accounting and IT; ACAMS,
ACI, CISI, ICA, GARP, ifs School of Finance, uoL International
Programmes, PRMIA qualifications within the Centre for
Banking, Arabic PIC and PID plus ACII accreditation with the
CII (uK) within the Centre of Insurance; marketing professional
qualifications accreditation with CIM (uK), management
and leadership qualifications with CMI (uK) as well as
human resources and learning & development professional
qualifications via CIPD (uK), Certificates in Management and
Business Administration and international accreditations
in Business english with edexcel (uK), and professional
qualifications in leadership from the Institute of Leadership &
Management-ILM (uK).
BIBF has strong Academic partnerships with highly renowned
universities including the MBA and MSc programmes in
Finance, Islamic Finance, and Human Resource Management
from De Paul university (uSA), as well as Darden’s Leadership
Development Programme (in collaboration with the Institute of
Bankers, KSA). BIBF has its undergraduate partnership with the
university of Wales which offers validated diplomas in Banking
and Finance, Accounting and Islamic Finance which lead to
Bachelors completion at Bangor university.
BIBF is a multilingual, multicultural organisation with world class
faculty, most of whom either hold internationally recognised
professional and academic qualifications, along with extensive
market experience. We are committed to hiring, developing and
enhancing the careers of Bahraini nationals, both our course
participants and our staff.
BIBF ANNuAL RePORT 2012 | 3
Chairman’s Statement
The Specific Council for Vocational Training (Banking Sector)
is pleased to present the Annual Report and Audited Financial
Statements of the Bahrain Institute of Banking & Finance (BIBF) for
the year ended 31 December 2012.
The Council met four times during the year to review the activities
and monitor the progress and direction of the Institute towards
the achievements of its strategic objectives. It has been observed
that BIBF has continued to play a vital role as the leading training
provider in the region.
BIBF remains focused on its vision of being the Institute of choice
for professional development and deepening Bahrain’s strength
in human capital in supporting the growth of the financial services
sector. The Council of 2012 noted that the BIBF’s achievements have
certainly reinforced this resolve.
The Council notes BIBF’s continued development of its international
H.E. Rasheed Mohammed Al Maraj partnerships which lend global recognition to its qualifications, and
Chairman of the Specific Council for
recognise the continued support of these partners and welcome
Vocational Training (Banking Sector)
the new ones, including ILM (uK), universiti utara Malaysia (uuM);
Pro Cloud Consultancy and Technologies; Arab Bank for economic
Development in Africa (BADeA); Boston Analytics and Moody’s.
BIBF also maintained its extremely strong domestic partnerships
with the Ministry of Labour, Waqf Fund and Tamkeen in 2012. A
number of collaborative programmes aimed at development of local
talent for the financial services sector were undertaken with Mou’s
signed with Specific Council (Construction Sector); Specific Council
(Retail Sector); IFSB (Islamic Financial Services Board) and Bahrain
Association of Banks.
Whilst BIBF Director Mr Garry Muriwai will cover the more detailed
results of the 2012 year, the key performance highlight of the year
was BIBF’s continued growth in the number of participants. BIBF
grew 7% in the number of participants in 2012 versus the previous
year. The 2012 result was the highest since BIBF commenced
operations in 1981, reflecting BIBF’s continued excellence in
delivering business and finance education quality to its members.
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In closing, BIBF is honoured to have been encouraged by the BIBF grew 7% in the
support and vision of His Majesty, King Hamad bin Isa Al-Khalifa,
number of participants
His Royal Highness, Prince Khalifa bin Salman Al-Khalifa, The
Prime Minister and His Royal Highness, Prince Salman bin Hamad in 2012 versus the
Al Khalifa, Crown Prince, Deputy Supreme Commander and First
previous year. The 2012
Deputy Prime Minister of the Kingdom of Bahrain. I on behalf of
BIBF, thank them for their invaluable patronage and guidance. result was the highest
I also extend my gratitude as Chairman to my colleagues on the
since BIBF commenced
Specific Council for Vocational Training (Banking Sector) for valued
support and encouragement throughout the year, with a special operations in 1981.
mention to three new members who joined the Specific Council in
2012 Mr. Mahomed Akoob, Managing Director, Hannover Retakaful
Bsc; Mr. Mazin Manna, Chief executive Officer, Citibank and Mr.
Patrick Gallagher, Chief executive Officer, HSBC. BIBF’s success could
not have been achieved without the support and co-operation of its
member organisations.
On behalf of the Specific Council for Vocational Training (Banking
Sector), thanks are extended to the Director and all BIBF staff.
Their dedication during the past year and their commitment to the
training and education of the financial services sector has ensured
BIBF’s continued success.
H.E. Rasheed Mohammed Al Maraj
Chairman of the Specific Council for Vocational
Training (Banking Sector)
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Our Vision, Mission and Values
Vision:
BIBF is the institute of choice
for the development of business
professionals.
Mission:
Leadership through providing
ongoing education for business
professionals.
Values:
At the heart of our organisational
culture are our values. Our values
define the way we interact every day
at BIBF. We call it PRIDE in
our performance:
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Principled
We are all responsible for open, honest and direct two way
communication. We tell it like it is, give and receive honest feedback
and listen carefully. All our interactions have an outcomes focus and
we operate with the utmost integrity in our interaction with business,
staff and other stakeholders.
Respect builds success
At BIBF we engage and support each other and capitalise on the
expertise and talents within the organisation. Everyone makes a
significant contribution and delivers on the communication we make.
Improve and innovate
To grow with business, we must anticipate and lead change.
We switch in to new ideas and possibilities and look for improvements
in all activities across our business.
Deliver to succeed together
We succeed when our stakeholders succeed. We develop and deliver
the highest value and quality tools and solutions to equip business
and other stakeholders for personal and business success. We can
only achieve this though partnering together across the business and
seeking successful outcomes.
Expect the Best
We set our standards high and expect the best results across all
operations. We recruit and develop the best and strive to be the best in
all our markets. We set stretch goals and celebrate our achievements.
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Members of the Specific Council for Vocational Training
(Banking Sector)
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